Streetbeat News

Regulatory

PTCT

PTC Therapeutics announced that the FDA has accepted and granted priority review to its Biologics License Application (BLA) for Upstaza, a potential treatment for a specific medical condition. This marks a significant milestone for the company, potentially accelerating the approval process.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 11:31 am

SPWR

SunPower shares are trading higher due to the return of trader 'Roaring Kitty' to social media and the Biden administration's decision to raise tariffs on Chinese solar panels. These factors are contributing to increased interest in high-short interest stocks, including SunPower.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 11:14 am

AMC

GME

HD

QQQ

SPY

Market sentiment is cautious as traders await inflation reports and Federal Reserve officials' speeches, including Chairman Jerome Powell. Home Depot reported disappointing revenue but met earnings expectations, hinting at consumer discretionary spending softness. Premarket trading saw slight gains in SPDR S&P 500 ETF Trust and Invesco QQQ ETF. GameStop and AMC Entertainment saw significant premarket surges. Upcoming economic data includes the producer price inflation report and speeches by Fed officials.

Portfolio Pulse from Shanthi Rexaline

May 14, 2024 | 11:06 am

LYRA

A new post-hoc analysis of pooled Phase 3 data reveals that INPEFA (Sotagliflozin) significantly reduces the risk of heart failure events in patients with preserved ejection fraction. This finding could have substantial implications for the treatment of heart failure, potentially positioning INPEFA as a leading therapeutic option in this patient population. The analysis, which draws on data from several Phase 3 trials, underscores the drug's efficacy in a condition that has historically been challenging to manage.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 11:04 am

TCS

The Container Store (TCS) has been notified of its non-compliance with the NYSE's minimum share price requirement for continued listing. This notice is a standard procedure when a company's stock trades below the NYSE's minimum average share price of $1.00 over a 30-day period. The Container Store now has six months to regain compliance, during which its stock will continue to trade on the NYSE. The company plans to consider available options to regain compliance with the NYSE's listing standards.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 10:47 am

STLA

Stellantis shares are trading higher following President Biden's announcement of tariffs on Chinese electric vehicles (EVs). Additionally, Stellantis and Leapmotor are set to begin sales of budget EVs in nine European countries.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 10:47 am

MNOV

MediciNova has received a notice of allowance for a new patent covering MN-166 (Ibudilast) for the treatment of chlorine-induced acute respiratory distress syndrome. This patent, once issued, is expected to expire no earlier than January 2042, potentially extending the commercial exclusivity of MN-166.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 10:15 am

BABA

BIDU

NVDA

TCEHY

China has reportedly instructed its tech giants, including Alibaba, Baidu, ByteDance, and Tencent, to reduce their reliance on foreign-made chips like those from Nvidia and increase their purchase of domestic AI chips. This directive aims to balance the purchase of local and foreign AI chips for new data centers, posing a challenge for Nvidia, which counts China as a critical market, making up 19% of its data center chip revenue in fiscal year 2023. Despite U.S. export restrictions affecting revenue, Nvidia is developing three new GPUs for China. HSBC Global Research maintains a Buy rating on Nvidia, raising its 12-month price target.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 9:34 am

HLTH

The FDA has issued a warning to Cue Health regarding its Emergency Use Authorized COVID-19 test. The company is reviewing the letter and will respond soon.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 7:53 am

EWG

Germany's Consumer Price Index (CPI) for April remained steady at 2.2% year-over-year, aligning with both the estimates and the previous month's figure.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 6:09 am